Real Estate Management and Development

Company Overview of Mego Financial Corp.

Company Overview

On March 9, 2010, Mego Financial Corporation went out of business as per its Chapter 7 liquidation filing under bankruptcy. Mego Financial Corporation engages in vacation ownership sales, resort operations, land sales for vacation and second homes and travel services. It operates resorts in Las Vegas and Reno, Nevada; Honolulu, Hawaii; Brigantine, New Jersey; Steamboat Springs, Colorado; and Indian Shores and Orlando, Florida, comprising a total of 1,040 units and representing 53,120 vacation ownership interests. Vacation ownership sales and operations are performed through Mego's wholly owned subsidiary, Leisure Homes Corporation (LHC). LHC acquires, develops, and markets vacation ownership...

On March 9, 2010, Mego Financial Corporation went out of business as per its Chapter 7 liquidation filing under bankruptcy. Mego Financial Corporation engages in vacation ownership sales, resort operations, land sales for vacation and second homes and travel services. It operates resorts in Las Vegas and Reno, Nevada; Honolulu, Hawaii; Brigantine, New Jersey; Steamboat Springs, Colorado; and Indian Shores and Orlando, Florida, comprising a total of 1,040 units and representing 53,120 vacation ownership interests. Vacation ownership sales and operations are performed through Mego's wholly owned subsidiary, Leisure Homes Corporation (LHC). LHC acquires, develops, and markets vacation ownership interests in resorts. It also develops and sells parcels of raw land to be used primarily as sites for second and/or vacation homes, and provides consumer financing to the purchasers of both vacation interval interests and land parcels. In addition to on site sales offices in Colorado and Nevada, LHC sells its land offerings from offsite offices in West Covina, California; Dallas and Houston, Texas; and Orlando, Florida. LHC's residential land group acquires existing platted subdivisions; and also acquires, develops, and subdivides real property and markets the platted and subdivided residential lots to retail customers. LHC sells residential land in Pahrump, Nevada; and Park County, Colorado. The company, through its other wholly owned subsidiary, Leisure Resorts Corporation, manages vacation ownership properties and receives management income in association therewith. Leisure Services Corporation, a wholly owned subsidiary, provides travel services to the leisure vacation ownership marketplace.

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